Pakistan slashes price of petrol by Rs12 per liter to provide ‘maximum relief’ to masses

An employee of a petrol station fills the tank of a customer in Karachi on February 16, 2023. (Photo courtesy: AFP/File)
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Updated 16 May 2023
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Pakistan slashes price of petrol by Rs12 per liter to provide ‘maximum relief’ to masses

  • After latest price cut, petrol is now being sold for Rs270 per liter, High Speed Diesel for Rs258 per liter
  • Finance Minister Ishaq Dar urges transporters to pass on impact of price cut to customers by reducing fares

KARACHI: Pakistan's Finance Minister Ishaq Dar announced the government's decision to slash the price of petrol by Rs12 per liter and High Speed Diesel (HSD) by Rs30 per liter on Monday, saying that the measure was taken to provide "maximum relief" to the masses amid declining prices of petroleum products in the international market.

Fuel and energy prices in Pakistan soared over the past one year as the South Asian country took tough fiscal measures in hopes of reviving a stalled $6.5 billion loan program of the International Monetary Fund (IMF). For a staff-level agreement to take place between the two sides which would unlock $1.1 billion in funds for Pakistan, the IMF asked Islamabad to scrap subsidies worth billions of rupees on fuel and energy, and raise taxes.

Subsequently, inflation increased to a historic high of 36.4 percent in Pakistan in April 2023, the highest since 1964. Weekly inflation reported an increase of 48.2 percent during the week ended on May 11, 2023 on an annual basis, according to the Pakistan Bureau of Statistics.

In a brief televised address, Dar said after the latest price reduction, petrol would cost Rs270 per liter, while HSD, kerosene and Light Diesel Oil would cost Rs258, Rs164.07, and Rs152.68 per liter respectively.    

“Prime Minister Shehbaz Sharif and his government tried to provide maximum relief to the public on the basis of price changes [of petroleum products] in the international market," the finance minister said.

Dar requested transporters and departments utilizing diesel to pass on the impact of the price cut to the public by lowering their fares so that all income segments of the society could benefit from the price reduction. 

The government's move to slash prices of petroleum products also comes at a time when Pakistan's import of petroleum products has decreased by 48% on an annual basis and 22% on a month-on-month basis during April 2023. 

Oil imports declined by 48% to 1.07 million tons during April 2023 as compared to 2.05 million tons during April 2022, according to a research report released by Pakistan's largest securities brokerage company, Arif Habib Limited, on Monday. 

Imports of Mogas, HSD, and crude oil decreased by 24%, 57%, and 43% respectively on an annual basis while RLNG imports also declined by 33% and 11% on an annual and monthly basis to 1.8 million tons during April 2023.


Pakistan expresses concern over vigilante attacks targeting Christians, Muslims in India

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Pakistan expresses concern over vigilante attacks targeting Christians, Muslims in India

  • Rights organizations have raised alarm over vandalism by far-right Indian Hindu groups to disrupt Christmas events
  • Pakistan urges international community to take steps to protect vulnerable communities from future attacks in India

ISLAMABAD: Pakistan’s foreign office spokesperson on Monday expressed concern over acts of vandalism and violence targeting Christians and Muslims in India, urging the international community to protect vulnerable communities there. 

Christian and rights organizations have raised alarm over attempts by some Hindu far-right groups recently to disrupt Christmas celebrations in India. These included a series of attacks targeting members of the minority community there. 

In one of the videos that went viral on social media, a local leader of Prime Minister Narendra Modi’s BJP party, Anju Bharvaga, can be seen assaulting a visually impaired Christian woman attending a Christmas event in Jabalpur city. Christian watchdog Open Doors International has said it recorded over 60 alleged attacks targeting Christians across India during the Christmas period. 

“The persecution of minorities in India is a matter of deep concern,” the Pakistani foreign office said in a statement. 

“Recent condemnable incidents of vandalism during Christmas, as well as state-sponsored campaigns targeting Muslims — including the demolition of their homes and repeated lynchings, notably the case of Muhammad Akhlaq, in which the state worked to shield the perpetrators from accountability — have deepened fear and alienation among Muslims,” it added. 

Akhlaq, then 50, was beaten to death by a Hindu mob in 2015 in India’s Uttar Pradesh state after rumors spread he had stored and consumed beef, a claim his family denies.

The BJP-led state government of Uttar Pradesh recently asked a local court to drop the charges against the men involved in his lynching, triggering anger among rights activists in India.

Pakistan’s foreign office said the list of such victims of vigilante attacks in India is “sadly long.”

“The international community should take note of these developments and take appropriate steps to help protect the fundamental rights of vulnerable communities in India,” it said. 

A report by US State Department in August said the Indian government took “minimal credible steps” or actions to identify and punish officials who committed human rights abuses in the country. 

Amnesty International and Human Rights Watch also fault Modi’s government for its treatment of minorities in India. 

They point to rising hate speeches, a religion-based citizenship law the UN calls “fundamentally discriminatory,” anti-conversion legislation that challenges freedom of belief, the 2019 removal of Muslim-majority Kashmir’s special status, and the demolition of properties owned by Muslims.

Modi denies discrimination and says his policies, such as food subsidy programs and electrification drives, benefit everyone.